My top 10 things to watch Wednesday, March 5 1. U.S. companies slowed hiring dramatically in February, according to ADP’s monthly private payrolls report. Only 77,000 jobs were added last month, roughly half the estimate and way below January’s upwardly revised 186,000. 2. Wall Street took the news in stride this morning ahead of Friday’s government employment report. The ADP numbers are just another sign of a slowing economy and supportive of the case for further Fed interest rate cuts. 3. Tariffs are still top of mind after yesterday’s stock market plunge and President Donald Trump ‘s address last night to a joint session of Congress. There were hints the 25% Canada and Mexico tariffs could be scaled back. 4. Auto optimism on tariffs is misplaced. These companies cannot raise prices off of this without Trump coming down on them. Shares of Ford and General Motors were up early on hopes for that tariff adjustment. 5. China said today it is ready to fight any type of war U.S. wants “till the end.” In addition to tariffs on Mexico and Canada, Trump doubled duties on Chinese imports to 20%. 6. Target was so downbeat yesterday on the future due to tariffs that you can’t get behind any retailers save Walmart and Club names Costco and off-price TJX. Target said produce prices could go up in a matter of days. 7. UBS analyst Jay Sole said to stick with TJX , the off-price retailer behind T.J. Maxx, Marshalls, and HomeGoods. He has great confidence in management. UBS has a buy rating and a $158-per-share price target on the stock. 8. CrowdStrike shares tumbled on light guidance after the Club holding reported strong quarterly results last night. We upgraded the cybersecurity stock back to our buy-equivalent 1 rating and maintained our $400-per-share price target. 9. Robin Washington, who is assuming the dual role of CFO and COO at Salesforce , bought $500,000 worth of the Club stock in the open market. Washington was lead independent director since 2022. 10. Bank of America said Apple ‘s App Store sales grew 14% year over year to $5.3 billion in the company’s fiscal second quarter to date. That’s 65 days. That’s bullish as the Club name continues to push out new AI features. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
A hiring sign is posted on the exterior of Urban Outfitters at the Tysons Corner Center mall on August 22, 2024 in Tysons, Virginia.
Anna Rose Layden | Getty Images
My top 10 things to watch Wednesday, March 5
1. U.S. companies slowed hiring dramatically in February, according to ADP’s monthly private payrolls report. Only 77,000 jobs were added last month, roughly half the estimate and way below January’s upwardly revised 186,000.
2. Wall Street took the news in stride this morning ahead of Friday’s government employment report. The ADP numbers are just another sign of a slowing economy and supportive of the case for further Fed interest rate cuts.
3. Tariffs are still top of mind after yesterday’s stock market plunge and President Donald Trump‘s address last night to a joint session of Congress. There were hints the 25% Canada and Mexico tariffs could be scaled back.
